Published on 15 January 2025

Peru: Achievements

Since 1964, Switzerland's cooperation with Peru has evolved from technical assistance to economic collaboration, with SECO supporting Peru's debt management, trade, investment, and sustainable development, focusing on areas like competitiveness, water, sanitation, and urban mobility.

Cocoa drying — © Lenin Quevedo

SECO has actively supported Peru since 1991, beginning with assistance in managing the country’s international debt. Through Swiss support, Peru was able to restructure significant portions of its bilateral debt, which led to the creation of a development fund that financed numerous local projects. In the early 2000s, SECO shifted its focus towards strengthening trade and investment in Peru, paving the way for more competitive market participation. Over the next decade, SECO broadened its efforts to include trade promotion, macroeconomic stability, public finance management, and infrastructure investment, particularly to support the growth of small and medium-sized enterprises (SMEs). Since 2017, SECO has further refined its approach, concentrating on sustainable development and prioritizing areas like competitiveness, water and sanitation, sustainable urban mobility, and direct budget support for the Peruvian government.

The impact of SECO’s initiatives is evident in several success stories that demonstrate the tangible benefits of this cooperation throughout the years:

• Value Chain Development (2021-2024)

  SECO supported the development and market access of 7 value chains of the agribusiness, tourism and mining sectors (cocoa, coffee, banana, sacha inchi, brown sugar, tourism and gold), contributing to 27 new value-added products, more than USD 256 million of annual exports and creation/retention of 25’000 jobs. In the case of cocoa, the volume of Peruvian cocoa exports to Switzerland has more than tripled in the last 4 years, reaching almost USD 13 million in 2023, allowing Peru to become the 4th largest supplier of cocoa to Switzerland.

• Water Access

  SECO significantly enhanced water access for communities in Moyobamba and San Martin, ensuring improved service continuity. By installing portable water treatment plants, SECO provided a consistent supply of drinking water. In Bellavista, the daily water availability increased from 3 hours every other day to 8 hours for 3’500 families. In Morales, over 16’000 residents now enjoy extended water service, rising from 4 to 10 hours each day. This project went beyond infrastructure investment by offering technical assistance to water utilities to optimize their operational, commercial, and financial processes. Workers received comprehensive training on procedures and legal standards for water quality. Moreover, the implementation of digital monitoring systems allows for remote oversight of these plants, a model that has been later adopted by the Technical Agency for the Administration of Sanitation Services in Peru.

• Improved Financial Inclusion and Literacy (2015-2023)

  SECO played a pivotal role in supporting the National Financial Education Plan (2017), which aimed to provide targeted financial education to specific groups. Between 2015 and 2023, significant progress was made, with the percentage of adults holding financial accounts increasing from 33% to 56%, and the proportion of those engaging in financial transactions rising from 29% to 36%. Additionally, SECO's initiatives facilitated the incorporation of financial education into the national basic education curriculum, resulting in a law passed in 2023 that requires the inclusion of financial topics in schools.

• Anti-Corruption Measures

  SECO supported Peruvian authorities in creating and enforcing confiscation laws through a specialized system of courts, tribunals, and prosecutors. The program provided targeted training, mentoring, and peer learning. This led to the recovery of assets, proving that corruption doesn’t pay. In one case, around USD 100’000 was recovered, and since 2015, SECO has helped recover approximately USD 50 million nationwide. In Cusco, property tied to a former mayor's corruption was successfully reclaimed.

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